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Asia’s factory pulse cools as tariffs and weak orders dent China PMI
Asian manufacturing conditions remained weak, led by China’s PMI at 49.
Manufacturing signals across Asia softened, with China’s official PMI at 49.0, marking a seventh straight month below the 50 threshold as export orders weakened. Surveys and analyst commentary tie the downturn to lingering U.S. tariff pressures and fading front-loading effects, even as some services gauges hold near expansion. The tariff backdrop has eased marginally after announcements cutting headline rates, yet order books remain fragile. Regional policymakers are watching spillovers into employment and capex. With the RBA and BoE policy decisions due, traders are reassessing currency and rates volatility alongside Asia’s factory readings.